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  • FIRST POST
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 22nd Dec 17, 3:48 PM
    • 208Posts
    • 688Thanks
    CoffeeCakeYarn
    Coffee, Cake, Yarn - New Start
    • #1
    • 22nd Dec 17, 3:48 PM
    Coffee, Cake, Yarn - New Start 22nd Dec 17 at 3:48 PM
    I've decided to edit this after a mess up of the figures. To cut a long story short I've been here before, paid off a lot, lived happily ever after, split with the ex, fell ill, and got myself in a pickle again. So here I am, new username, new diary, new dreams. Upfront warning, I over post

    I'm a thirty something (cough) single-ish-ton who is determined that I won't hit 35 in debt. I will hit 35 travelling somewhere hot, pretty and PAID FOR IN CASH. Hobbies include Gin, Gym, Cake, Craft. Welcome, thanks for looking in!

    My total debt is £26218.58.

    My first focus is MBNA which started at £2385

    My pots only include a fun pot and an emergency pot right now, in March a wee little payrise is coming, all the pots will happen then and budgeting can start properly. At that point I'll do a proper SOA for you all to see, in the mean time it's just a mission to earn as much extra as I can, and use the CC as little as possible (so far so good, nothing since early December!)



    Pull up a pew, I'm in for a long ride...

    Last edited by CoffeeCakeYarn; 16-02-2018 at 10:31 AM.
Page 13
    • Sunkencosts
    • By Sunkencosts 7th Feb 18, 2:53 PM
    • 93 Posts
    • 95 Thanks
    Sunkencosts
    I've been thinking of doing something similar actually - We have a 7 year loan at 7%, and now we have CC with space on at 0%. However, I'm worried that actually the minimum payment might be higher than we currently pay on the loan - also if something went wrong and we missed a payment suddenly it reverts to 20% interest.

    I think for now we will continue to pay the loan for another 2 years as we get rid of our 11k cc debt, and then shift the balance at that point. But it's worth considering isn't it? I know when my mum offered to loan us money to pay off a loan we had at 14 odd % (what were we thinking?!?) at only 3% interest (because she's not a charity!!) we paid the same amount back but it reduced the loan term by a whole year!
    Savings:
    Emergency 404.38/1000 Car 200/600 Christmas 250/800 Holiday 250/600
    Grading 30/90 presents 40
    Total debt Jan 2018 53,938
    April 2018 47,780.52
    • enthusiasticsaver
    • By enthusiasticsaver 7th Feb 18, 3:34 PM
    • 6,619 Posts
    • 13,933 Thanks
    enthusiasticsaver
    I've been thinking of doing something similar actually - We have a 7 year loan at 7%, and now we have CC with space on at 0%. However, I'm worried that actually the minimum payment might be higher than we currently pay on the loan - also if something went wrong and we missed a payment suddenly it reverts to 20% interest.

    I think for now we will continue to pay the loan for another 2 years as we get rid of our 11k cc debt, and then shift the balance at that point. But it's worth considering isn't it? I know when my mum offered to loan us money to pay off a loan we had at 14 odd % (what were we thinking?!?) at only 3% interest (because she's not a charity!!) we paid the same amount back but it reduced the loan term by a whole year!
    Originally posted by Sunkencosts
    I think you should let the loan run its course for now as the 0% credit cards won't clear otherwise before the deals expire and then you may be stuck trying to find balance transfer cards. If you cannot get it transferred the credit cards are liable to go up to 20%+ which is much higher than the loan. It is also generally easier to overpay credit cards than loans. 7.9% for a loan is not the worst rate in the world and if you have £11k on credit cards that is a lot to clear.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • enthusiasticsaver
    • By enthusiasticsaver 7th Feb 18, 3:37 PM
    • 6,619 Posts
    • 13,933 Thanks
    enthusiasticsaver
    Morning all,

    Been reading through some threads today which has given me a bit of a quandary. It's maybe not a right now quandary but it's something I'd like to get some advice on if possible.

    My target debt is MBNA which has 0% until November. If everything goes to plan I *should* be able to pay it off by then, but I'm not panicking if I don't. At worst there will be less than £100 on it, and if there's more I'm pretty confident I will be able to balance transfer, but I will look at the figures closer to the time.

    My plan was to then move on to CC number two which has about 30 months 0%.

    However....

    I've just read a thread about loan interest, stating that if a loan is paid off early then interest rates are not fixed and you pay less interest. I currently have a loan at 7.9% with around £9600 left on it. Here's the question. I'm eligible (90%) for a 0% cash transfer CC. Should I take it, use as much as I can to pay off as much of the loan as possible and tart when the time comes? The loan is the only thing I'm paying interest on at the moment, and is not due to finish until Jan 2020.

    Any thoughts?
    Originally posted by CoffeeCakeYarn
    Sorry, my response above was to this quote not the one by sunken costs. I really shouldn't post while doing other stuff.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 4:11 PM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    Haha no worries, thanks for all your responses

    I'm going to sleep on it for now I think. I might apply and see what kind of limit and length I get. Very fair point about 7.9% being much better than 20% when the deals run out, it's given me food for thought!
    Last edited by CoffeeCakeYarn; 07-02-2018 at 4:58 PM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 4:53 PM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    In other boring news, still a grog bum today. Got lots to do tonight, need to hoover as landlord is coming over to look at the washing machine tomorrow. Need to pop to the shop and pack ready for tomorrow afternoon. Still massively struggling with motivation, been in a bit of a foul mood the last few days, not for any reason. I just feel pants. I really hope it shifts tomorrow so I can enjoy the trip properly.

    Random freezer dinner tonight, and early night once all the jobs are done. Half day at work tomorrow before the next adventure. Diddy little chips at the fun spend again today.

    Hope everyone has had a good Wednesday x
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • Drawingaline
    • By Drawingaline 7th Feb 18, 9:59 PM
    • 432 Posts
    • 1,452 Thanks
    Drawingaline
    If you feel you can manage the credit card it might be worth looking at. I am the opposite, I manage to overpay loans really well, but with credit card debt I just can't control myself! I now have one credit card in the drawer for things like car hire (which happens about once a year) etc, and one in my diary which is set up CORRECTLY in YNAB, so if I spend on it I have to transfer money from the correct category to the card line for payment. I used it when we booked our trip to Paris and it was nice to know I had the funds in the bank to clear it right away.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 8th Feb 18, 10:16 AM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    Drawing - I've applied. I won't be applying for anything else at all until at least November so will see what comes of it.

    Morning morning you lot.

    Last nights freezer dinner was spag bol. 3rd consecutive night in a row haha. But today it's away for the weekend and I won't have to cook or wash up, what a treat Really looking forward to it. It's a long drive to please everyone pray to the traffic gods for me Was so grotty last night I was asleep by 9, but then up before 6am this morning all excited. Seems like my heads cleared a bit, fingers crossed.

    Sorted out my car insurance yesterday, ready for renewal next month. It'll have to be done monthly this year as obviously don't have the cash to pay up front and not putting it on a CC, but will be stashing away the money every month so I can pay upfront next year. The difference between monthly and annual was £30, not great but not as horrific as I was expecting.

    Had a little read back at some of my earlier pages, specifically the Aldi YS finds, and I was kicking myself that I didn't buy more. I haven't spent a penny on meat this year, and I still have so much left. I was worried at the time I was spending willy nilly but honestly it's saved me a ton of money, and I still won't need meat for another month at least. I'll be sad when I've used it all up haha.

    Dinky little chips at the pay back the fun spend yesterday. I've got my snacks and booze sorted for the weekend, car is full of petrol, and I've got £15 for fun spends which should cover it, and if it doesn't? TOUGH!

    Happy Thursday all x
    Last edited by CoffeeCakeYarn; 08-02-2018 at 10:21 AM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 8th Feb 18, 11:30 AM
    • 1,589 Posts
    • 8,651 Thanks
    joeyjimbles
    I hope you have a lovely time.
    And you've cleared a nice little chunk off the fun spend in only a few days - not even a week, imagine if you could do the same over the next few weeks - it would be gone in about 5 weeks or less.
    I did a job for Field Agent at the weekend - not onerous as it was a home delivery from a supermarket - thought I wasn't going to get paid as there was a submission error and I thought that was a lesson learned, but got an email today apologising and despite delivery only costing me £1 they paid £5 for it plus £5 fee. The things on my list I was going to buy from there anyway (budgeted) and I got a few things on promotion so I'm more than £9 up on the deal. Need to wait til Monday for the cashout to come through but I'm happy with that.
    • joeyjimbles
    • By joeyjimbles 8th Feb 18, 11:34 AM
    • 1,589 Posts
    • 8,651 Thanks
    joeyjimbles
    Ooh and a recipe for you.
    Sliced new potatoes and onion baked for 15 mins, then add halved sad cherry tomatoes for 5 mins, then top with frozen haddock fillets topped with breadcrumbs seasoned with chili flakes, salt, pepper, lemon zest and parsley and drizzled with olive oil and bake for another 15 minutes - with frozen petit pois cooked with end of sad lettuce and spring onion.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 8th Feb 18, 12:22 PM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    That sounds lovely! Thanks! I've got some fish in the freezer still so i'll give that a go, minus the tomatoes though, not a fan

    So... when you starting your diary? You could do a recipe a week
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • Drawingaline
    • By Drawingaline 8th Feb 18, 7:56 PM
    • 432 Posts
    • 1,452 Thanks
    Drawingaline
    Oh enjoy your weekend away. We are away sat morning too. But no where exciting, about an hour away to stay in a premier Inn for our sons birthday. At his request lol!
    • Lilith1980
    • By Lilith1980 9th Feb 18, 7:02 AM
    • 1,818 Posts
    • 5,172 Thanks
    Lilith1980
    Enjoy your weekend away! I'm going away today too until Sunday, can't wait
    My debt-free diary
    • rexelpink
    • By rexelpink 10th Feb 18, 8:05 AM
    • 213 Posts
    • 493 Thanks
    rexelpink
    Enjoy your weekend away coffee x
    Staring debt - June 2013 - £21,000
    Current debt - February 2018 - £11,378.60

    Emergency fund £500 / 100%

    Debt free one day at a time
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 12th Feb 18, 9:28 AM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    Morning all! Weekend away was AMAZING. I'm a tired little bear now though. I overspent by £20 on petrol and £5 on craft supplies, so not too much damage done and the petrol was unavoidable Boo the traffic!

    Off to tot up the totals and will be back for a proper catch up later. x
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 12th Feb 18, 1:37 PM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    Reet then! Busy morning at work. Scores on the doors!

    So £20 overspend on petrol, nothing I could do about it. 250 mile journey and we got stuck in traffic both ways, so just had to suck it up. £5.00 overspend on craft supplies was avoidable, so kicking myself a bit. But it's is stuff I will use, and was massively discounted on normal RRP so did bag a bargain.

    Had a lovely time, isn't it really nice when you don't have to cook for yourself? Pinched some lovely smellies from the room and ended up with a ton of teabags and decaf coffee, because one of the receptionists ended up dumping a bag of the decaf stuff on my table so I didn't have to keep asking So I'm completely over fed, over watered, and over tired but it was very, very worth it. Lovely weekend. And that's the last of the breaks away for a wee while. I've amended the fun fund to show the damage.

    In other MSE news all the budgets are still going strong for the rest of the month, although some will be a little bit tight. I might need to top up on the petrol and food, but we will see. Only need a very few tiny bits for this week and have £5.00 in nectar points to spend so will probably pop to the shops tomorrow. Still eating the YS meat, spag bol for dinner tonight hahahaha.

    I have eaten soo much bad stuff over the last few weeks that I'm sorting myself out from today. Ready for the sugar headaches to start BOO! I know it's worth it if I push through though, I feel so much better when I'm not eating sugar and processed stuff, but the headaches for the first few days - argh.

    Must remember to look at breakdown cover. No spendy plans this week now until some birthday drinks on Saturday (not mine) and I've budgeted for that,

    Work is very, very busy right now. I've not had a chance for a survey all day. I'm at gym tonight so won't get home and sit down until about 9:00pm, which might be too late to dip in. Pay back the fun pot isn't going to well today, but I can only do what I can do, and I have to do proper work

    Hope everyone had a great weekend. Happy Monday all.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • Mahsroh
    • By Mahsroh 12th Feb 18, 1:42 PM
    • 339 Posts
    • 330 Thanks
    Mahsroh
    I reckon the freebie teabags and coffee is probably worth a fiver, so that offsets your overspend on craft supplies!! :-)
    • joeyjimbles
    • By joeyjimbles 12th Feb 18, 1:51 PM
    • 1,589 Posts
    • 8,651 Thanks
    joeyjimbles
    Glad you had a lovely weekend and there's nothing you can do about the petrol.
    I have a new money spinner for you - another survey site but this time mostly on your mobile. Its called Curious Cat and you download it from the app store - mostly seems to be points for downloading games and trying them (obviously one could delete them after a little while if you don't like them) and also doing the usual surveys. Pays out in paypal when you have a minimum of £1 and its been instant so far. I only started on Thursday and have cashed out £8 - some of the surveys are dull and the usual suspects, and I've been screened out of loads but they give you a penny for that. Make sure you download the right one as there's a chat forum by the same name.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 12th Feb 18, 2:10 PM
    • 208 Posts
    • 688 Thanks
    CoffeeCakeYarn
    Mahs - I never looked at it like that but I think you might be right, there's a whole carrier bag full

    Joey - Thank you, I'm on it You are good to me!
    Last edited by CoffeeCakeYarn; 12-02-2018 at 2:13 PM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 12th Feb 18, 2:14 PM
    • 1,589 Posts
    • 8,651 Thanks
    joeyjimbles
    I find a thing, I share it. And £8 for faffing around on a phone is fine - I made most of that money whilst watching tv.
    • Lilith1980
    • By Lilith1980 13th Feb 18, 5:12 AM
    • 1,818 Posts
    • 5,172 Thanks
    Lilith1980
    Glad you had a lovely weekend and there's nothing you can do about the petrol.
    I have a new money spinner for you - another survey site but this time mostly on your mobile. Its called Curious Cat and you download it from the app store - mostly seems to be points for downloading games and trying them (obviously one could delete them after a little while if you don't like them) and also doing the usual surveys. Pays out in paypal when you have a minimum of £1 and its been instant so far. I only started on Thursday and have cashed out £8 - some of the surveys are dull and the usual suspects, and I've been screened out of loads but they give you a penny for that. Make sure you download the right one as there's a chat forum by the same name.
    Originally posted by joeyjimbles
    You did way better than me then. I signed up to Curious Cat and took me ages just to earn 60p so I gave up!
    My debt-free diary
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